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The healthcare sector in the Middle East and North Africa (MENA) region is witnessing a phase of significant growth. A recent report by Fitch Solutions suggests that that the MENA region’s healthcare market is projected to grow from US$ 185.5 billion in 2019 to US$ 243.6 billion with an 11.7% compound annual growth rate (CAGR) at constant exchange rates through to 2023. MENA’s healthcare market will post a five-year CAGR of 6.6% in US dollar terms.
The report suggests that urbanisation, ageing demographics and a rising burden of chronic diseases will rapidly boost the demand for healthcare in the MENA region. With governments attempting to diversify their economies and reduce their vulnerability to oil price volatility, the private sector is likely to take on some of the healthcare burden, including projects through public-private partnerships.
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